Clawbacks are contractual provisions in executive compensation contracts that allow for an ex post recoupment of variable pay if certain triggering conditions are met. As a result of regulatory responses to financial crises and corporate scandals, as well as growing shareholder pressure to implement effective measures against executive misbehaviour, the prevalence of such clauses has risen considerably in the recent past, beginning in the US after the 2000 financial crisis. As clawbacks have become a buzzword in the European debate about also ensuring good corporate governance beyond the financial sector, it is time to critically discuss the hopes that have been associated with various types of such provisions.

中文翻译：

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高管薪酬合同中的追回条款

回拨是高管薪酬合同中的合同条款，如果满足某些触发条件，则允许事后补偿可变薪酬。由于对金融危机和公司丑闻的监管反应，以及越来越大的股东要求采取有效措施打击高管不当行为的压力，此类条款的流行程度在最近大幅上升，始于 2000 年金融危机后的美国。由于追回已成为欧洲辩论中关于确保金融部门以外的良好公司治理的流行语，现在是批判性讨论与各种类型的此类规定相关的希望的时候了。